DIE MESA DIE !!!!!!!
With an avatar like yours, I expected somthing more along the lines of:
Private Orenstein, I will Fing skull F you you little Fing sack of sh1t.
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DIE MESA DIE !!!!!!!
New article states they've reached a restructuring agreement with some of their bond holders. Opened today a $0.05.Nope. Besides the 12 million of 2023 notes still outstanding...
"The Company also announced its intent to immediately resume discussions with certain holders of its Senior Convertible Notes due 2024 (holding $104,030,000 million in aggregate face amount) to enter into agreements with such holders imminently on terms substantially equivalent to the previously announced rescinded agreements. No assurance can be given that the Company will be able enter into mutually acceptable agreements with such note holders. If such discussions prove unsuccessful, the Company intends to permit such holders to put their notes to the Company on the same economic terms as previously provided for under the terms of the Indenture governing such notes, including at the same pricing for the notes tendered on or before February 10, 2009."
This says they intend to resume talks. Doesnt mean they have agreements to restructure yet.
New article states they've reached a restructuring agreement with some of their bond holders. Opened today a $0.05.
The way that restructuring is set up, it would take about a 30x increase in stock price to come close to being profitable for bond holders. That seems incredibly unlikely.. even in 15 years.
So for these bond holders... I assume that they are trying to take what they can get. But I don't think this setting Mesa up for any big rebound in stock price, as this is a very unhealthy and unlikely way of repaying their debts.
I think JO must have a ACE up his sleeve...interesting to see what it is.
Apparently MESA has issued 65.7 million additional shares as compensation to bond holders for $120.3 million in outstanding debt the company has.
That more than triples the amount of outstanding shares of the company. *Which also explains why the stock value plummeted yesterday.